The equal time limit of commutator matrix elements of conserved currents is rigorously calculated by means of structures which follow from general principles of relativistic quantum field theory and current conservation. We prove: (a) In general derivatives of δ-functions occur (gradient terms). — (b) The proper (non-gradient) part of the equal time limit is exactly given by the divergence-free causal one particle structures constructed from those intermediate one particle states which have the same main quantum numbers (mass, total spin and total isospin) as one of the external states (saturation by two one particles states!). — (c) All the other intermediate discrete one particle states drop out completely and the continuous many particle states contribute at most to gradient terms. — (d) The gradient terms emerging from the remaining two discrete intermediate one particle states can be removed without any restrictions on the form factors. — (e) From current algebras of conserved currents in the form proposed and used in the literature one cannot deduce any predictions for form factors beyond the algebraic conditions for coupling constants which already follow from the algebra of the charges.